First time buyers look abroad

FIRST time buyers in the UK are heading abroad in an attempt to get a foot on the property ladder.

In an interesting article on the Telegraph website, a survey of over 4,500 young people aged between 18 and 29 found half of them planned to buy abroad.

With two-thirds of those stating that their foreign investment would be their first property purchase.

It is clear that with the average price of a home in the UK being so high it is prohibitively expensive for first time buyers to actually purchase anything.

But if people can spend a bit of time searching an area in a foreign country to find a suitable property then their money is likely to go a lot further.

Most purchasers are looking to let their property, whilst others may look to use the internet to promote their business and keep in touch with clients.

There is one danger, as the article highlights, and that is the risk posed by currency fluctuations.

Comments

[damien cousins]

Dear This is the French Life,
i have recently become intereted in the property market and within the first week i came to the conclusion that buying my first property would be finacially more attractive abroad.
My home town is an expensive suburb of london called Ealing, after reading a book on how to get on the property ladder it recommended that northolt a town ten minutes away from Ealing was classed as affordable however the prices range from £110,000 - 170,000 for a one bedroom flat. This made me realise that given my place of work is in Ealing, my family,friends and life is based around Ealing ive decided that this maybe the only option available to me.
The only thing is im very tempted to buy in France, hence i am reading a book on the subject.
However i would like to hear your suggestion!
Yours Damien Cousins.